Bahrain has witnessed an impressive growth in property transaction volumes for the first quarter which rose by 36 per cent to hit $600 million, compared to last year’s figures, according to data released by Bahrain’s Survey and Land Registration Board.
These figures represent a boost of more than a third compared to the same period last year, when numbers were just over $440 million.
According to the report, just under 3,000 properties were sold across the kingdom during the first three months, up 51 per cent over last year, which reached just under 2,000.
The Bahraini unit of UAE listings portal Propertyfinder also reported that the number of sale listings during Q1 had gone up almost 10 per cent over the last quarter. Much of this growth can be attributed to strategic swift financial decisions taken by the government to support the economy, it added.
Ali Al Mudaifa, Executive Director, Investment Origination at the Bahrain Economic Development Board, said: “The rise in real estate transactions indicates the growing demand for residential and retail properties in the kingdom which represents an opportunity for investors and developers who can benefit from Bahrain’s business-friendly regulations such as 100 per cent foreign ownership.”